Some people think calculus is easier as it follows what you just had in HS while finite is a different animal. Be aware that M119 at IUB uses calc in a business context. The tests are not the typical math calc tests in that they present business problems that require calc for an answer. That throws some people.
M118 is easier if you thought probability and the like was easy in HS. Most math folks laugh at people thinking M118 is harder than calc, but some people do.
My advice is to take both classes outside IUB either online or in summer at your local CC if you don’t love math. I took finite in summer prior to starting at IUB and calc online. Given the experience of people at IUB I know, I made the right choice and preserved my GPA. Since you will be lucky to ever use finite or calc again in Kelley or your business life, it does not matter if you take these classes elsewhere.
Additionally, as a Direct Admit with no AP coming in, I recommend you boost your credits anyway by taking classes elsewhere to get earlier registration times later on.
All freshmen are more or less registering at the same times this summer based on orientation sign up, but after that it’s based on how many credits you have. I will start my second year at IUB this fall as a calendar Sophomore, but I will have Junior status based on credits. That helps a huge amount when trying to get into the popular sections with the best professors since those classes fill up fast. Don’t worry too much about the credits though, IUB Kelley will make sure you can get into the classes you need in order to graduate in four years.